Update on Cup and Handle. Went fast for that liquidity.

I was imagining a longer descending channel formation to scare off longs and trap bears. But Ethereum has no time for that BS.

The expected target gets us to retest the previous all time high. Don't go in a short unless you know when to get out.

And don't jump into a long unless you know that the pattern is confirmed.

Trade safe, have a great day.

Kommentera:

Different from my previous post, this is also a valid pattern formation.

The new levels from recent price action is confluent to where we will see the most resistance.

Kommentera:

There's the retest I was expecting.Was just a crapload more dramatic and painful than expected.